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The two friends and other cryptocurrency experts predict it could hit AUD$100,000.

But while many would-be investors weigh up whether they've missed the boat to join the bitcoin game, Mr Colosi and Mr Lenoci say there's many different ways to profit.

Putting their money into a firm that invests on their behalf they are now collectively making thousands daily.

'I started out at about $200 a day, but now it's close to $2,000 a day,' Mr Colosi said.

'I started out when it was about AUD$5,100 a few months ago and then it boomed up to where it is now, about AUD$17,000,' Mr Colosi (pictured) said

While many are wondering if they've missed the boat Mr Colosi (pictured) claims it's not too late, with many cryptocurrency experts predict one coin could soon be worth AUD$100,000

The pair's bitcoin business has been so successful they have packed in their jobs working as miners in WA and are soon planning to relocate overseas

'We put in a lot of work in the first few months, but I honestly didn't expect it to be like this.

'I have made seven bitcoins already and Stephen's made about three, it's incredible.'

While some are calling the rise of cryptocurrency a 'fad', the budding bitcoin experts say it's anything but.

They claim that experts they speak to, many of who have made millions from buying and selling the coins, predict the price of one coin could hit six-figures by late-2018.

'Back in the day we worked in the mines and construction, and we are still doing a bit of that around Sydney but not for long,'Mr Colosi said.

IS IT TOO LATE TO MAKE A BITCOIN FORTUNE?

Bitcoin is a digital currency, known as cryptocurrency, which began in 2009 and were initially worth just a few cents.

In 2013 they hit the USD$100 mark for the first time, before rising to USD$900 at the start of 2017. Today they are worth USD$12,000 (AUD$17,000).

Thousands of amateur traders are now betting huge amounts, while start-up companies use bitcoin to raise money and avoid the transparency needed in a stock market float.

But experts fear the currency has become a vast speculative bubble detached from reality.

Watchdogs across the world have warned there could be a sudden massive crash if the market turns, losing investors billions of dollars.

Economist Nouriel Roubini, who predicted the global financial crisis (GFC), is one who has called cryptocurrency a 'giant speculative bubble' bound to end in disaster.

However cryptocurrency investors such as Mr Colosi and Mr Lenoci claim the price will continue to boom, potentially as high as USD$50,000 or AUD$100,000.

Bitcoins are generated by using an open-source computer program to solve complex math problems. This process is known as 'mining'.

Each Bitcoin has a unique fingerprint and is defined by a public address and a private key. Owners of bitcoin do not own a physical coin, but instead a string of numbers and letters that give a specific identity.

Other types of coins are available online including Ethereum, LiteCoin, Neo and Monero — these non-bitcoin cryptocurrencies are often called altcoins.

'I didn't expect it to be like this': The pair have also invested into 'mining' cryptocurrency and hope to both be millionaires by the end of the year

After peaking at close to AUD$22,000 one bitcoin (pictured) is currently worth AUD$17,000

'We're planning on relocating to Thailand at the end of February and focussing on building the business while we're living there.

'Our goal for the year is to be millionaires, to make seven figures - we've turned it into $200,000 in four months and we're looking to just continue building on that.